Azzad Asset Management Inc. ADV Acquires 4,519 Shares of MongoDB, Inc. (NASDAQ:MDB)

Azzad Asset Management Inc. ADV grew its position in MongoDB, Inc. (NASDAQ:MDB) by 650.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,214 shares of the company’s stock after purchasing an additional 4,519 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in MongoDB were worth $1,870,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in MongoDB by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after acquiring an additional 194,148 shares during the period. Jennison Associates LLC increased its position in MongoDB by 3.3% during the fourth quarter. Jennison Associates LLC now owns 3,856,857 shares of the company’s stock worth $1,576,876,000 after acquiring an additional 122,893 shares during the period. Norges Bank bought a new position in MongoDB during the fourth quarter worth $326,237,000. First Trust Advisors LP increased its position in MongoDB by 59.3% during the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after acquiring an additional 204,284 shares during the period. Finally, Axiom Investors LLC DE bought a new position in MongoDB during the fourth quarter worth $153,990,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $264.94 on Thursday. The firm’s 50-day simple moving average is $298.84 and its 200 day simple moving average is $363.02. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90. MongoDB, Inc. has a 12-month low of $214.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate of ($0.80). The firm had revenue of $450.56 million during the quarter, compared to analysts’ expectations of $438.44 million. MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. Research analysts predict that MongoDB, Inc. will post -2.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $290.00 target price on shares of MongoDB in a research report on Thursday, June 13th. Wells Fargo & Company decreased their price target on shares of MongoDB from $450.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. Oppenheimer decreased their price target on shares of MongoDB from $480.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Tigress Financial lifted their price target on shares of MongoDB from $495.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, KeyCorp decreased their price target on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $361.30.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $379.15, for a total transaction of $379,150.00. Following the completion of the sale, the director now directly owns 522,896 shares of the company’s stock, valued at approximately $198,256,018.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $379.15, for a total value of $379,150.00. Following the completion of the sale, the director now directly owns 522,896 shares of the company’s stock, valued at approximately $198,256,018.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $374.95, for a total value of $2,249,700.00. Following the completion of the sale, the director now directly owns 1,148,784 shares of the company’s stock, valued at $430,736,560.80. The disclosure for this sale can be found here. In the last three months, insiders sold 23,174 shares of company stock valued at $6,615,752. 3.60% of the stock is currently owned by insiders.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.